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Get your taxes done using TurboTax
am i correct that by financing you mean the LLC provides the funds to buy the land and finance construction? if so then your trade or business is the construction of homes. what you are selling is inventory. that gets reported on page 1 of 1065 and is ordinary income. the cost of construction would go under cost of goods sold.
‎January 1, 2022
10:22 AM